Serbia Industry June 2019

Serbia: Industrial production plunges in June

July 31, 2019

Industrial production fell 6.1% over the same month of the previous year in June, down from the 0.6% decline registered in May. June’s dismal performance was broad-based and marked the fifth month of contraction year-to-date. Manufacturing output contracted at a sharper rate in June, while mining and quarrying production also fell and gas, steam and air conditioning supply moderated in the month.

On a month-on-month seasonally-adjusted basis, industrial production fell 1.3%, contrasting the 1.4% increased logged in May. Meanwhile, annual average industrial production fell 1.8% in June, down from the 0.9% dip in May.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.7% in 2019, which is down 0.3 percentage points from last month’s estimate. In 2020, the panel sees industrial production growth at 3.0%.

Author:Lindsey Ice, Economist

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